Brief

President Donald Trump has sworn in Kevin Warsh as the new Federal Reserve chair, emphasizing his desire for Warsh to stimulate the economy while also stressing the importance of the Fed's independence. Trump criticized his predecessor, Jerome Powell, for being too hesitant to lower interest rates and expressed confidence that Warsh would prioritize economic growth. Warsh, in turn, pledged to lead a reform-oriented Federal Reserve and believes AI-driven productivity gains can foster growth without increasing inflation, though some Fed officials remain skeptical. AI

Kevin Warsh has been sworn in as the new leader of the US Federal Reserve, taking the helm at a critical juncture for monetary policy. He faces immediate challenges including an economy influenced by the AI boom, alongside potential shocks from oil prices and tariffs. Warsh has pledged to lead a reform-oriented Fed, learning from past experiences and moving beyond static frameworks. AI

President Trump has called off plans for a new executive order on artificial intelligence, citing concerns that it could hinder America's technological lead over other nations. The order, which was expected to address cybersecurity risks posed by advanced AI models like Anthropic's Claude Mythos, was postponed due to disagreements over its text and potential impact on innovation. This decision reflects internal divisions within the administration regarding the balance between promoting AI development and mitigating potential threats. AI

Christopher Waller has been appointed to lead the US Federal Reserve, facing the immediate challenge of an unfolding inflation dilemma. His tenure begins amidst ongoing economic uncertainties and policy considerations. The appointment places a key figure at the helm of American monetary policy. AI

A majority of Federal Reserve officials indicated a willingness to raise interest rates if inflation persists above the 2% target, according to minutes from the April policy meeting. This sentiment suggests a potential shift towards tighter monetary policy, influenced by factors like the Iran war and rising energy prices. Meanwhile, Fed Chair Jerome Powell announced he will remain a governor for an undetermined period, citing concerns about political interference and the Fed's independence, a move that deviates from modern tradition and denies President Trump an immediate board vacancy. AI